Crypto Philanthropy: How Blockchain Companies Are Shaping the Global Donation Industry

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We are in an increasingly socially conscious society with consumers - particularly Gen Z – demanding more social responsibility from the corporations they deal with. According to a 2022 study by Markstein, nearly seventy per cent of consumers want to know what the brands they buy from are doing to address social and environmental issues. Additionally, forty-six per cent focus on a brand’s corporate social responsibility when they are purchasing a product. 

As such, crypto companies have also been challenged to play their part in empowering societies and protecting the environment. In the past five years, the volume of crypto donations has skyrocketed despite the volatility in the market, as the 2022 Report by The Giving Block, a Web 3-focused philanthropy firm, shows. 

In 2022, the firm collected over $125 million in crypto donations, as 1,052 non-profits joined  The Giving Block as clients to fundraise crypto. Notwithstanding, the platform predicts crypto donations through its platform will top $10 billion in the coming decade. 

Crypto and NFTs are leading a seismic cultural shift that is disrupting how we interact, transact, and express our identities. Corporate social responsibility will be no different as more companies launch initiatives geared towards this tech-savvy, forward-thinking technology. 

With the crypto philanthropy landscape growing rapidly, let’s look at some of the leading crypto-based companies and individuals shaping the crypto donations industry: 

As one of the leaders of the crypto industry, Binance announced the launch of Binance Charity in 2018 with a mission “to do good” for the world using